Allogene Therapeutics, Inc. (NASDAQ:ALLO) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Allogene Therapeutics received a consensus “Moderate Buy” rating from 13 analysts, with eight buys, one strong buy, three holds and one sell. The average 12-month price target is $8.30.
• ALLO shares opened at $2.10, down 5.8%, with a market capitalization of approximately $725.5 million and a 12-month trading range of $1.04 to $4.46.
• The company reported a quarterly loss of $0.13 per share, beating estimates by $0.04, while revenue reached $4.64 million. Institutional investors own 83.63% of the stock, including a roughly $6.63 million new position from Bank of America.

Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the thirteen brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $8.30.

Several research firms have recently weighed in on ALLO. Weiss Ratings cut shares of Allogene Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, August 12th. Citizens Jmp restated a "market outperform" rating and issued a $6.00 target price on shares of Allogene Therapeutics in a research note on Monday.

Allogene Therapeutics Stock Down 5.8%

Shares of ALLO stock opened at $2.10 on Friday. The firm has a market cap of $725.53 million, a P/E ratio of -3.13 and a beta of 0.48. The company has a 50 day moving average of $1.98 and a 200-day moving average of $2.14. Allogene Therapeutics has a 12-month low of $1.04 and a 12-month high of $4.46.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.17) by $0.04. The firm had revenue of $4.64 million during the quarter, compared to the consensus estimate of $0.00 million. As a group, equities analysts expect that Allogene Therapeutics will post -0.59 EPS for the current year.

Institutional Investors Weigh In On Allogene Therapeutics

A number of institutional investors have recently made changes to their positions in the business. GTS Securities LLC bought a new stake in Allogene Therapeutics in the second quarter worth $27,000. Coastal Bridge Advisors LLC purchased a new position in shares of Allogene Therapeutics in the second quarter worth about $45,000. Public Employees Retirement System of Ohio bought a new stake in shares of Allogene Therapeutics in the 2nd quarter valued at about $554,000. Corient Private Wealth LP bought a new stake in shares of Allogene Therapeutics in the 2nd quarter valued at about $85,000. Finally, Bank of America Corp DE purchased a new stake in Allogene Therapeutics during the 2nd quarter valued at about $6,630,000. Hedge funds and other institutional investors own 83.63% of the company's stock.

Allogene Therapeutics Company Profile

Allogene Therapeutics is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” chimeric antigen receptor T-cell (CAR T) therapies to treat a range of hematologic malignancies and solid tumors. The company leverages gene-editing technologies to generate universally compatible engineered T cells, aiming to overcome the limitations of patient-specific CAR T approaches such as manufacturing delays, variable product quality and treatment resistance.

The company's pipeline includes multiple allogeneic CAR T candidates targeting key antigens in blood cancers.

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